VW China expects to double ID electric vehicle sales despite COVID
Volkswagen China on Friday stuck to its goal of doubling sales of its ID series of electric vehicles this year despite COVID-19 disruptions, with its chief calling the target “promising”.
The ID series, which Volkswagen produces at its Chinese joint ventures with SAIC Motor (600104.SS) and FAW Group, is the backbone of its electric vehicle [EV) ambitions in China, the world’s largest auto market, reports Reuters.
VW is expecting to deliver 15,000 to 20,000 of the ID cars per month in the upcoming months, Stephan Wollenstein, the company’s China CEO told a media briefing on Friday.
“We hope that we can also get the necessary parts in place,” Wollenstein said. “By doing so, we will then be able by the end of the year to have sales of IDs more than double compared to last year.”
The champions of the combustion age – European, U.S. and Japanese automakers – are falling behind local players in the booming EV market in China, a country that is key to funding and developing their electric and autonomous ambitions.
VW, the biggest foreign automaker by sales in China, said its overall China sales fell 20.5% in the first half of the year to 1.47 million units.